Member Info for Transhaven

If this really were "the biggest onshore USA oil discovery in decades." why is there literally no talk of it anywhere and why is it taking over a year to even get a JV?

If there really was a billion barrels of EXTRACTABLE oil in the ground that was ECONOMICAL to drill then we simply would not be in this situation. A few months ago we were a going concern.

We need to focus on increasing production on the well that we bought off a company that clearly struggled with extraction due to the wells poor quality. If they were good wells then why did the company sell them to COPL so easy???

Bolton - totally agree. Same chat been going for years and years and still just pie in the sky wishes wrapped up in misleading requotes of "facts and figures" from RNS and reports.

But at least we are no longer waiting on Nigerian stuff to materialise! People seem to have forgotten all about Nigeria! I expect if we fast forward a year the JV will be like the Nigerian pie in the sky!

But hey ho to quote the eternal Jay (God rest his soul) you never know with COPL, we might just pull something out of the bag and I guess that is why we are here ;)

Hey Cavity - that 2.5 million sell....we needed like a hole in a tooth!

Oh dear, looks like we have a live one here in GuessWho!!!! You should have written: "how to lose friends and alienate people".

JV - no firm dates just a string of words from Art. There is no guarantee that the JV will ever land and with Art's track record of mistruths and illusions then I would not be investing in this company on that basis.

Great production updates though - I just wish COPL would stick to improving the operation rather than rainbow chasing.

Looks like the market gave the correct response to the RNS though - neutral. It might have been a positive reaction but because of the perceived delay in the JV . Factor our the JV and our "billion barrels of oil" and that RNS might have lead to an increase in buying.

"* More well re-completions out of Cole creek for frontier 1 production" - Great, this is where we should be, slowly increasing the flow.
"* Gas gathering system phase 1 upgrade" - Again great stuff!
"* Increased production(since January been on upward trajectory)" - yeah but not really when weather conditions are able to put a stop to production. What is the 23/24 plan for not allowing bad weather to stop production?
"* JV agreement" - sorry but can we put this misdirection from Art to bed. If we were getting a JV then it would have happened. It is not happening, lets move on.
"* RBL" - same as above
"* Uplift in sentiment of course dependant on news flow" - Yes but not news flow, sentiment will only change when we stop chasing rainbows of JVs and concentrate fully on maximising the asset we actually have. Sentiment will not change with nonsense misdirection news from Art about JVs and billion barrels of oil nonsense. A steady and constant uplift in the production of oil is the only thing that will turn this company around.

"How much oil do we have done there again? Hmmmm 1bn+ barrels ;)" - the same billion that has been there for years but no one has been able to get it out the ground in a cost effective way? You can have 1 trillion barrels but if it is not economical to extract then who cares. The fact that over 12 months has passed since the "discovery" and no JV announced suggests that there is something seriously wrong. We should ignore any more talk of it.

All IMO :) Lets get some balance back to this board please.

Eeeeek! Is this the lowest SP we have seen?

I was prepared for the long wait with NFX but 4 years constant drop in value is testing us all!

Strangely enough a law firm that buys shares in a company that it has just done some legal work for is called INSIDER TRADING. So no this company has nothing to do with the JV if there is even a JV in offing which looks increasingly unlikely.

I was so close to investing here. But at over 1000% down then thank the lord i did not! How long that is going to take. Also a string of words that is pretty pointless and depends on the revenue associated with the black hand deal.

This is a string of words that is pretty pointless and depends on the revenue associated with the black hand deal.

It is just how long that is going to take. Also a string of words that is pretty pointless and depends on the revenue associated with the black hand deal.

2 nice buys that take us to a new low SP wise! Nice!!

Who is commenting on holding no shares mwshep1?

Bloody glad I did not buy in here last week! Thought this was going to rocket....

For those that are too lazy to trawl through the posts here, is anyone able to succinctly articulate the likely timescales of what news we are due and what the possible outcomes of the news might be?

Unfortunately there is no 100% reliable way of knowing a buy or sell so you are speculating.

We have just had an update on flows etc.

Art is not going to release any more info until there is some! People waiting on JV stuff really need to re-think, it does not take over 6 months to arrange these things. No, it is us going forward slowly but surely.

Sorry but why would a major oil firm want to buy the US site that is plagued with problems? What possible train would they and if the field with a billion barrels of oil in it is so profitable did no one buy it before?

It was sold because of the extreme difficulties getting the oil out of the ground of proving.

Looks like we are slowly turning the corner. As long as there is no bad news ahead which I can't see why there should be, we should motor on up.

Not sure the is a joint venture in the offing as we would have heard about it by now. However the oil extraction rate is getting better so this will slowly climb.